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Offer in Compromise
dealing with the IRS |
| Offer in compromise | |
| If a taxpayer is unable to pay the
taxes due in a short period of time, an offer in compromise might be negotiated by a tax
professional with the IRS. An offer is presented that provides the government with a sum of money -- often pennies on a dollar -- in full settlement of all tax debts owed. The successful offer is calculated based upon the net assets of the taxpayer and the taxpayer's anticipated monthly cash flow over the next few years. For more information on offer in compromise, click here. |
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| Links to other sources | |
| Offer in compromise How do offers work ? |
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| Copyright © 1997 Gill &
Company, CPAs. All rights reserved. Revised: October 02, 1997. |